12778, Smallwood, NY

The 12778 zip code of Smallwood, NY is located in the Finger Lakes region of New York. The median home value in this zip code is $236,000 and the median home equity value is $146,000. This means that approximately 60% of homes in this zip code are worth more than their original purchase price. Additionally, the average home price appreciation rate for homes in this zip code over the past five years has been 5%. This indicates that there is a lot of demand for housing in this area and that prices are likely to continue to rise.

One reason why prices have been rising so rapidly in the 12778 zip code is because there are a lot of new homes being built here. In fact, over the past five years there has been an average of 2 new homes being built per year. This indicates that there is a lot of demand for housing and that prices will continue to go up if more houses are not built soon.

Another factor contributing to high home values in the 12778 zip code is low unemployment rates. Currently, the unemployment rate here is 3%, which is much lower than many other areas around New York City. As a result, people who live here can afford to buy more expensive homes without having to worry about losing their jobs or having too much difficulty making ends meet.

Overall, it seems clear that there are a lot of reasons why prices have been going up rapidly in the 12778 zip code over the past few years and it seems likely that they will continue to do so for some time to come. If you're looking for a place to live within close proximity to all of Rochester's attractions, then you should definitely consider purchasing a home here!